Another Look at Dividend...
according to recent 10k, looks like only 23.5 mn left in accretable discount left (we lost $4mn?) with nothing coming due in the near term. Assuming, we accrete over 3-years, I don't see how we get much more than 75c a share to be paid out - and that assuming the 270mn in cash gets put to good use. I think 25c for this coming div is fine given what they've said for Q1 but it doesn't seem like we can sustain it beyond without levering up.....7.5% unleveled yield is not bad in this environment but wonder if pps reacts negatively .... any thoughts?